www.iva.co.uk

Hi All,

Wonder if anybody on the forum can help me...im a first time poster...long time reader in the background and firstly thanks for all your support that you give...even to those that you dont know your giving it to!!

I am currently about to complete the third year of my IVA in May 2012.

Thank fully my family have decided to muck in and help me out as they have seen how much i have really learnt my lesson...i mean life has totally changed for me after taking out my IVA....i now (quite strangely) get a satisfaction of saying NO to credit/store cards rather than previously thinking "how much would i get"

Anyway....do you think the below would be acceptable for a Full & Final Settlement?

Currently my details are:

206 pcm (which include £45 fees)
May next year the payments will increase to £394 (inc £45 fees)

161 x 16 (until payment is increased) = 2576
349 x 12 = 4188

Total for IVA = 6764 (or call it £6800)
Total for fees = 1260 (or call it 1300)

Total for Full & Final inc fees = £8100

Do you think that is an appr amount to offer for a full and final?

Thanks in advance!

By the way the family have said they would offer this cash to pay the IVA only...and not for any other reason

Looks like a good offer so give it a go

Thanks Lisa,

I dont know im really scared...dont know if i worked it out right.....! Hope they say yes though...!

Its going to be like waiting for my creditors meeting all over again!

Welcome Josh. Do you own a property that comes into the equity release clause? If not it looks like a good offer, I am sure the creditors would rather have the money now rather than later..good luck, do let us know how you get on..

Hey Nepensioner,


No, no property...the only thing i have which will increase payments is the HP on the car, which ive factored into my calculations....

Is there a standardised letter template or anything or is it worthwhile just calling my case worker and getting him to do the leg work? Sometimes i think if you write a letter yourself theres more emotion...especially regarding how i've changed!!

I think it helps Josh, if you can come up with a reason for making the offer, eg redundancy, sickness, moving on and getting married. I would e-mail your IPt so that you know the offer has been received, and if you don't hear within a few days, then give them a ring to see what they think. It is important that you say that the money is from family and is available for this offer only.

Hubby sent his offer by special delivery to ensure it got there and was signed for. It's definitely worth putting the offer forward and you have nothing to lose.
Good luck with it

arrghh i need help typing this letter!

I basically want to put my parents are offering this money to pay off the IVA but if the amount isnt enough they arent giving it me!!!

any help would be appreciated!!!

"The lump sum of £XXX is being provided by my parents for the Full and Final Settlement offer only. Should the offer be refused they will retain the funds and they will no longer be available to me!

Something along the lines of:

After discussing my IVA with my parents and expressing a wish to clear this early because (then list any reasons you have), they have offered me £xx.xx to bring the IVA to a close.
Please note this is the maximum they can only offer and this amount is only available as a full and final.

The offer will be withdrawn by my parents if this is not acceptable by creditors.

Play with that and see if you can do anything with it!

lol perfecto!

Just had a total mind blank....think its because im stressing to much!

Good Luck Joshiva